During the August 1 REDC Auction at the Miami Beach Convention Center, thrifty South Floridians spent nearly $9.3 million on 154 foreclosed properties. That comes out to $60,390 per property.
REDC, the auction company, said a Fort Lauderdale home sold for $20,000, 91% less than its previous high value. And a Delray home went for $99,750, 51% off its high value.
This auction is part of an eight-city tour through Florida in which REDC is set to sell more than 1,500 foreclosures.
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